by Amruth Sundarkumar | Nov 12, 2021 | China, Distressed / Defaulted Bonds
China South City was downgraded to B- from B by Fitch with a negative outlook reflecting weakened funding access against significant obligations maturing in the coming 12-18 months. While the developer has sufficient cash balances of about $1.2bn, just sufficient to...
by Amruth Sundarkumar | Oct 6, 2021 | China, High Yield Bonds
Chinese real estate developers’ dollar bonds saw carnage yesterday after Fantasia’s default. What started as a drop in investor sentiment towards the sector beginning with the systemic impact of Evergrande, has now translated into a domino-effect with most...
by Megha Malhotra | Aug 24, 2021 | China, Credit Ratings, High Yield Bonds
Moody’s has downgraded China South City (CSC) to B3 from B2 and its outlook has been changed to negative from ratings under review. The downgrade is based on weak credit metrics and high financing risks given its poor liquidity and sizeable amount of debt due over the...
